Shiba Inu (SHIB) is currently outperforming virtually all top 100 cryptocurrencies after suddenly spiking 8%, according to data provided by data ranking site CoinMarketCap.
Shiba Inu is now close to surpassing Avalanche (AVAX) and regaining the 12th spot. The gap between the two cryptocurrencies is now smaller than a billion dollars.
Bitcoin (BTC) has also regained the $50,000 level once again.
Cardano (ADA) and Polkadot (DOT) are the top performers within the top 10. Both have appreciated roughly 5%.
Ethereum (ETH) keeps flatlining after gaining ground against Bitcoin earlier this week.
Shiba Inu also has to recover 56.75% in order to reclaim its previous peak.
The Ethereum-based canine token remains in the spotlight in spite of the price correction. Earlier this week, Flexa and BitPay, two leading cryptocurrency payment firms, both announced support for Shiba Inu. SHIB also keeps seeing more exchange listings, with Bitstamp revealing earlier this week that it would allow its users to trade the Shiba Inu coin.
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